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富瑞:下調存款準備金令房地產受益 首選融創中國及中駿置業
格隆匯 01-02 14:49

富瑞發佈報告稱,內地下調存款準備金率可提高流動性,開發商和購房者因可受惠更低的借貸成本,從而令房地產板塊受益。儘管此舉不會強勁地提振地產銷售,但將可有效穩定現在相對疲弱的地產市場,尤其是平均售價方面。

該行稱,儘管近期內房板塊反彈看到獲利回吐機會,但該行維持看好中型優質股的銷售及盈利表現繼續優於大型房企,當中青睞在內地一、二線城市具有擁有豐富且低價的可售土地資源,行業首選合景泰富(01813.HK)、旭輝控股(00884.HK)、融創中國(01918.HK)及中駿置業(01966.HK)。

該行又稱,高負債的私人發展商預計是主要的受惠者,因較的新借款利息成本將減慢2021年及以後發展商毛利率持續下跌的情況。該行又預期,前三十大發展商今年合同銷售額增長將平均放緩至逾10%,中小型內房股持續跑贏大型內房,尤其是世茂房地產(00813.HK)、旭輝控股、合景泰富、中駿置業及寶龍地產(01238.HK),預計今年合同銷售額增長逾30%。

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